Buying pressure increases as the DCR coin price approaches the $100 support zone. Will it be enough to result in a bullish reversal?

Decred is an innovative project. It uses blockchain technology's decentralized nature as a platform to ensure that no one can vote on the project. Decred's primary goal is to provide all DCR holders have equal decision-making power and that no large institutions can swing the votes in favor of Decred.

Let us now take a deep look into the technical analysis of Decred.
<h2>Past Performance of DCR</h2>
On 27th September, the DCR coin price <a href="https://www.cryptoknowmics.com/news/dcr-technical-analysis-fib-numbers-confirm-a-trend-reversal-at-the-95-5-level/">plummeted</a> up to 15% resulting in the bearish engulfing candle in the daily chart. The candle initiated the short-term downtrend in the price action to the $100 support zone. 

The support zone has provided demand to the falling Decred prices multiple times in the past few months. And on every support, the price reaches at least the $150 mark. Hence, traders can expect a price jump upon successful reversal.

Presently, at press time, the coin price is $109, with a rise of 1.37% in the past day due to the demand met near the support zone. Furthermore, the intraday trading volume increased by 60%, indicating the rise in buying pressure.  
<img class="aligncenter" src="https://s3.tradingview.com/snapshots/l/lgFa0idD.png" alt="TradingView Chart" />
<a href="https://www.tradingview.com/x/lgFa0idD/">DCR/USD Daily Chart</a>
<h2>DCR Technical Analysis</h2>
The price action retests the $109 level upon bullish breakout earlier today in the 4-hour chart. Upon successful retest, we can observe the breakout of the resistance trend line in action.

As per the Pivot Points, the bull run will face resistance near the $120 and $150 marks. However, if the price fails to reverse the short-term downtrend, a downfall to $70 is possible. 

The RSI slope at 46% struggles to rise above the central line in the daily chart. However, the last two dips at the $100 support zone showcase bullish divergence in the RSI slope. Hence, the RSI indicator gives a buy signal for the DCR coin. 

The MACD and signal lines maintain a bullish alignment and give a bullish crossover in the daily chart. Moreover, the lines showcase bullish divergence in the last two dips, similar to RSI. Hence, the MACD indicator gives a buy signal.
<h2>Upcoming Trend</h2>
As per the technical analysis of Decred, the uptrend in DCR coin price gains momentum, which can shortly result in a bullish reversal. However, the breakout of the resistance or the $120 mark will provide the entry confirmation.

DCR Technical Analysis: Bullish Reversal Aims at $150

Buying pressure increases as the DCR coin price approaches the $100 support zone. Will it be enough to result in a bullish reversal?

Vikram is a technical analyst with several years of experience in the crypto market &amp; Indian Equity and F&amp;O Segment. He loves to learn anything and everything related to finance. He possesses strong technical and analytical skills, which he leverages to acquaint our audience with upcoming price trends for different coins.

DCR Technical Analysis: Bullish Reversal Aims at $150

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